Mapping an orthographic texture to a model
The last piece which is missing in your setup is that Project From View like any other UV unwrap method unwraps all the mesh parts which are selected. 

As you selected the whole mesh and unwrapped it, its UV map was created according to that point of view - for the whole object (so there are intersecting parts on that UV map island you have shown in your screenshot).
The problem is that you want only side of the object to be unwrapped according to that projection and it is very likely that you want the front part of the object to be unwrapped with Project From View executed once your view is oriented accordingly. E.g. this famous person uses UV map made with Project From View executed from the front view:



It looks relatively good from the front view, but the side view is distorted as much as it was visible from the point of view when unwrapping.
So if you want to use Project From View, select only adjacent parts of the mesh according to what is visible while unwrapping, or mark seams and unwrap according to them (the view point won't make any difference then).